Navitas Semiconductor (NASDAQ:NVTS) Trading 1.1% Higher - Time to Buy?

Key Points

• Navitas Semiconductor shares rose 1.1% on Wednesday, trading between $22.09 and $23.63 on lighter-than-average volume. The company’s market cap was about $5.22 billion.
• Analyst sentiment remains mixed: several firms recently raised price targets, but the stock still carries a consensus “Hold” rating and an average target price of $14.74. Current ratings include two Buys, four Holds, and two Sells.
• Navitas reported a smaller-than-expected quarterly loss of $0.04 per share and revenue of $8.6 million, but sales were still down 38.7% year over year. Insider selling has also been notable, with executives and directors selling millions of shares over the past 90 days.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s share price traded up 1.1% on Wednesday . The company traded as high as $23.63 and last traded at $22.34. 19,937,658 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 28,995,852 shares. The stock had previously closed at $22.09.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Rosenblatt Securities increased their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Morgan Stanley reissued an "underweight" rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Robert W. Baird increased their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.74.

Navitas Semiconductor Trading Up 1.1%

The stock has a market capitalization of $5.22 billion, a P/E ratio of -35.46 and a beta of 3.75. The firm's fifty day moving average is $19.62 and its 200-day moving average is $12.68.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The company's revenue was down 38.7% on a year-over-year basis. Equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In related news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the transaction, the director owned 13,964 shares in the company, valued at approximately $392,528.04. The trade was a 83.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the transaction, the director owned 101,709 shares of the company's stock, valued at approximately $2,945,492.64. This represents a 52.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last ninety days. Company insiders own 12.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NVTS. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the period. Marex Group plc grew its holdings in Navitas Semiconductor by 22,203.8% during the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company's stock valued at $19,100,000 after purchasing an additional 2,663,119 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock valued at $96,464,000 after buying an additional 2,550,613 shares during the period. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $15,867,000. Finally, UBS Group AG boosted its holdings in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company's stock valued at $23,612,000 after buying an additional 1,875,228 shares during the period. Institutional investors and hedge funds own 46.14% of the company's stock.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.

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